Third Party Logistics Market is Expected to Reach 93900 Million USD by 2023 with Leading Key Players - DHL Supply Chain, FedEx, Nippon Express, Americold Logistics, LLC., UPS Supply Chain Solutions
Third-party logistics (3PL) is a business arrangement in which companies outsource their logistics operations to a specialized service provider that offers customized on-demand transportation, warehousing, distribution, and freight and forwarding services.
The global Third Party Logistics market is valued at 67700 million USD in 2017 and is expected to reach 93900 million USD by the end of 2023, growing at a CAGR of 5.6% between 2017 and 2023.
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Market Segment by Companies, this report covers AmeriCold Logistics, DHL Supply Chain, FedEx, Nippon Express, UPS Supply Chain Solutions.
Market Segment by Regions, regional analysis covers
· North America (United States, Canada and Mexico)
· Europe (Germany, France, UK, Russia and Italy)
· Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
· South America (Brazil, Argentina, Colombia)
· Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
· Logistics Software
Market Segment by Applications, can be divided into
· Consumer Goods
· Food and Beverage
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Scope of the Report:
· This report studies the Third Party Logistics market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Third Party Logistics market by product type and applications/end industries.
· Increasing advancements in e-commerce across the retail sector is expected to drive the growth prospects for the global 3PL market in the forthcoming years. Some of the major factors responsible for the expansion of the e-commerce sector includes the increased adoption of the Internet and mobile services. Also, it has been observed that elements such as efficient inventory management and quick delivery are important for the operational success of this sector. As a result, the demand for efficient delivery systems, inventory management, small package deliveries, individualized shipping time, and freight forwarding are increasing, driving the third-party logistics market size.
· APAC accounts for the maximum market share in 2017 and is estimated to continue to dominate the market for the next few years. Some of the major factors responsible for the market’s growth in the region is the increasing outsourcing of logistics services and an increase in imports and exports across key countries. Also, the strong demand for 3PL services in APAC is due to factors like economic growth and globalization that requires manufacturers to import and export raw materials and finished goods on a global level.
· The global Third Party Logistics market is valued at 67700 million USD in 2017 and is expected to reach 93900 million USD by the end of 2023, growing at a CAGR of 5.6% between 2017 and 2023.
· The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
· North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Third Party Logistics.
· Europe also play important roles in global market, with market size of million USD in 2017 and will be million USD in 2023, with a CAGR of %.
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